Ameristar Casinos has agreed to pay $16 million for 41 acres of land in Springfield, Massachusetts, where it plans to build a casino resort, in anticipation of legalised casino gaming in the state, The Wall Street Journal reported yesterday.
Earlier this month, lawmakers in the US state approved legislation to legalise casino gambling.
“There are not many attractive new-market growth opportunities for casino companies, and this one in particular fits squarely within the Ameristar business model as an upscale regional destination casino operator,” Ameristar Casino’s Chief Executive Gordon Kanofsky said.
The casino operator is buying the land from a company which had planned to develop a large-scale retail project on the site.
The buildings on the site are being razed, and Ameristar said the property will be delivered substantially ready for construction.
Ameristar’s preliminary development plans include a casino, luxury hotel, dining venues, retail outlets, entertainment and meeting space, and structured parking.
The company expects to complete the land deal in January.
View Comments
Loading ...
